Actuarial

  • Actuaries can do lots of things.
    • We can provide the field with a clear description of the policy and how it works.

—  Bruce E. Booker, Life of Virginia, a member of the American Council of Life Insurance (ACLI) Task Force on Cost Disclosure and the National Association of Insurance Commissioners (NAIC) Advisory Group on Illustrations

1993 – SOA – Sales Illustrations – We Can’t Life With Them, But We Can’t Live Without Them!, Society of Actuaries  —  [BonkNote] 

  • 1991 – SOA – Actuarial Standards, rsa91v17n22 – Society of Actuaries – 22p

  • 1992 – SOA – Principles of Actuarial Science, tsa92v4418 – Society of Actuaries – 64p

  • 2020 – AP – Exploring Universal Life Insurance – Actuarial – 47p
    • digital.wpi.edu/concern/student_works/p2676z121?locale=en
      • Exploring_UL_Policy_Example.xlsx
      • Universal_Life_Lesson_Plan_.pptx
    • Abstract
    • This project focused on exploring Universal Life insurance by learning about its history, components, and process of reserving.
    • To conduct our research, we read several textbooks, study notes and a Valuation Manual.
    • We then created an Excel deliverable of a theoretical UL policy, created a Lesson plan about UL to teach to actuarial students, and a paper that explains the ins and outs of UL from a consumer standpoint and how the mechanics of a UL policy would work for a potential policyholder.
  • New Money (Investment Generation Method) vs Portfolio, PVFB – Present Value of Future Benefits, Commutation Functions, Reserves, Smoothing, Cost of Insurance Rate, Mortality Rate, GRET, CSO, Expenses, Premium,